Back Custom print Link Text Only Rich Text Print

  • CIU-B.1 CIU-B.1 Application

    • CIU-B.1.1

      Module CIU applies to all relevant persons, with respect to collective investment undertakings ('CIUs') that are:

      (i) Domiciled in the Kingdom of Bahrain (irrespective of the jurisdiction in which they are offered); and
      (ii) Domiciled in an overseas jurisdiction, and offered to investors resident in Bahrain.

    • CIU-B.1.2

      The terms relevant persons, collective investment undertakings, Bahrain domiciled CIUs and overseas domiciled CIUs are as defined in Sections CIU-B.2, CIU-B.3 and CIU-B.4 respectively.

    • CIU-B.1.3

      No person may establish a Bahrain domiciled CIU, unless the CIU is either authorised or registered, as required under this Module.

    • CIU-B.1.4

      No person may offer CIU holdings to investors resident in the Kingdom of Bahrain, unless the CIU concerned is either authorised or registered, as required under this Module.

    • CIU-B.1.5

      For the purposes of this Module, 'offering' CIU holdings means, by way of business, soliciting investors to purchase holdings, by whatever means. (These may include, but are not limited to, advertising in print or other media, or use of the telephone, face-to-face contact, e-mail or internet.) Such activity would be viewed as offering holdings to investors resident in Bahrain, where it could reasonably be viewed as addressed to Bahrain residents (e.g. advertising in Bahrain print media, or addressing communications to Bahrain residents).

    • CIU-B.1.6

      For the purposes of this Module, holdings mean the unit of measurement of the beneficial interest of participants in a CIU, by whatever name it is called (including 'units' and, in the case of investment trusts or companies, shares). Each holding (which may be in fractions of a holding) represents a right to the assets of the CIU.